Only a few days after her husband Donald Trump unveiled his $TRUMP joke coin, former US First Lady Melania Trump unveiled her own cryptocurrency, $MELANIA, according to CNN.
Melania revealed her digital currency on Sunday in a social media post that read, “The Official Melania Meme is live! You can get $MELANIA right now. www.melaniameme.com Donald Trump’s cryptocurrency, which had been trading high since its debut two days prior, had a decline in value at the time of the launch.
Meme coins are cryptocurrencies influenced by online culture and are notorious for their volatility and lack of inherent value. Even while their costs can vary significantly, they frequently become well-known and participate with the community.
With the launch of $TRUMP, Donald Trump, who had previously denounced Bitcoin as being “based on thin air,” has embraced meme coins. Trump said, “My NEW Official Trump Meme is HERE!” in his Friday launch post. Now is the time to celebrate our core value: WINNING! Become a member of my exclusive Trump Community. BUY YOUR $TRUMP RIGHT AWAY. Visit http://gettrumpmemes.com and enjoy yourself!
The Solana blockchain is where $TRUMP and $MELANIA are both traded. After Melania’s debut, $TRUMP’s value first skyrocketed, hitting over USD 70 by Sunday afternoon, before dropping to USD 40. According to CoinGecko, as of early Monday, $TRUMP had risen to over USD 60, while $MELANIA was trading at slightly over USD 12.
In the cryptocurrency market, the Trump coin has become very popular. According to CoinMarketCap, its market valuation is now restricted at USD 13 billion, with 200 million coins in circulation. It is anticipated that there will be one billion $TRUMP coins in circulation during the course of the following three years.
The websites for both cryptocurrencies make it clear that they are not intended to be conventional investment options, but rather to reflect and interact with the ideals of their respective companies. Additionally, they deny any political allegiance. However, Trump Organization-affiliated companies CIC Digital and Fight Fight Fight LLC own 80% of the $TRUMP currency supply. They are prohibited from selling all of their interests at once due to a three-year unlocking plan.
The currency is promoted on the $TRUMP website as “the only official Trump meme,” celebrating a leader who “doesn’t back down, no matter the odds.” As both meme coins compete for users’ attention and engagement, Melania Trump’s entry into the cryptocurrency space gives the meme coin market a competitive edge.
The adoption of cryptocurrencies by Donald Trump represents a dramatic change in his position. He spoke at the biggest cryptocurrency gathering in July 2024 and named Tether backer and cryptocurrency champion Howard Lutnick to head the US Commerce Department. This action demonstrated the former president’s increasing backing for the digital asset industry.
FAQ
$MELANIA is a meme cryptocurrency introduced by former First Lady Melania Trump, launched shortly after Donald Trump’s $TRUMP. Both are meme coins traded on the Solana blockchain and are intended for community engagement rather than traditional investment. However, they represent distinct brands and target audiences.
Yes, both $MELANIA and $TRUMP are legitimate cryptocurrencies traded on the Solana blockchain. However, as meme coins, they are known for their volatility and lack of intrinsic value. Their primary purpose is community engagement and reflecting their respective brands rather than being traditional investment vehicles.
You can purchase $MELANIA through the official website melaniameme.com or via cryptocurrency platforms that support Solana-based tokens. Ensure you have a compatible cryptocurrency wallet for transactions.
Donald Trump has shown increasing support for cryptocurrencies, marking a significant change from his earlier criticisms. His attendance at a major cryptocurrency conference in July 2024 and the appointment of cryptocurrency advocate Howard Lutnick to lead the US Commerce Department indicate his evolving endorsement of the digital asset industry.
No, both cryptocurrencies explicitly state they are not intended to have any political allegiance. They are promoted as community-centric projects celebrating their respective brands and ideals. However, companies linked to the Trump Organization hold a majority of $TRUMP coins under a controlled unlocking schedule.
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